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| Entity Registrant Name | APPLE INC |
| CIK | 0000320193 |
| Accession number | 0001193125-14-383437 |
| Link to XBRL instance | http://www.sec.gov/Archives/edgar/data/320193/000119312514383437/aapl-20140927.xml |
| Fiscal year end | --09-27 |
| Fiscal year focus | 2014 |
| Fiscal period focus | FY |
| Current balance sheet date | 2014-09-27 |
| Current year-to-date income statement start date | 2013-09-29 |
| Commentary | Maturites do not foot by the amount of unamortized discount plus hedge accounting fair value adjustments. Used the concept us-gaap:DebtInstrumentCarryingAmount to express the $29,000. This is not common, need to look into this. |
| Level 1 (Note level) Text Block concept | us-gaap:DebtDisclosureTextBlock |
Note 6 – Debt Commercial Paper In April 2014, the Board of Directors authorized the Company to issue unsecured short-term promissory notes (“Commercial Paper”) pursuant to a commercial paper program. The Company intends to use net proceeds from the commercial paper program for general corporate purposes, including dividends and share repurchases. As of September 27, 2014, the Company had $6.3 billion of Commercial Paper outstanding, with a weighted-average interest rate of 0.12% and maturities generally less than nine months. The following table provides a summary of cash flows associated with the issuance and maturities of Commercial Paper for 2014 (in millions):
Long-Term Debt In the third quarter of 2014 and 2013, the Company issued $12.0 billion and $17.0 billion of long-term debt, respectively. The debt issuances included floating- and fixed-rate notes with varying maturities for an aggregate principal amount of $29.0 billion (collectively the “Notes”). The Notes are senior unsecured obligations, and interest is payable in arrears, quarterly for the floating-rate notes and semi-annually for the fixed-rate notes. The following table provides a summary of the Company’s long-term debt as of September 27, 2014 and September 28, 2013:
The Company has entered, and may enter in the future, into interest rate swaps to manage interest rate risk on the Notes. Such swaps allow the Company to effectively convert fixed-rate payments into floating-rate payments or floating-rate payments into fixed-rate payments. In the third quarter of 2014, the Company entered into interest rate swaps with an aggregate notional amount of $9.0 billion, which effectively converted the fixed-rate notes due 2017, 2019, 2021 and 2024 into floating-rate notes. In the third quarter of 2013, the Company entered into interest rate swaps with an aggregate notional amount of $3.0 billion, which effectively converted the floating-rate notes due 2016 and 2018 into fixed-rate notes. The effective rates for the Notes include the interest on the Notes, amortization of the discount and, if applicable, adjustments related to hedging. The Company recognized $381 million and $136 million of interest expense on its long-term debt for the years ended September 27, 2014 and September 28, 2013, respectively. The Company did not have any long-term debt in 2012.
Future principal payments for the Company’s Notes as of September 27, 2014, are as follows (in millions):
As of September 27, 2014 and September 28, 2013, the fair value of the Company’s Notes, based on Level 2 inputs, was $28.5 billion and $15.9 billion, respectively. |
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| Level 4 (Note level) Text Block concept - Maturities of Long Term Debt | us-gaap:ScheduleOfMaturitiesOfLongTermDebtTableTextBlock |
Future principal payments for the Company’s Notes as of September 27, 2014, are as follows (in millions):
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| Level 4 (Note level) Text Block concept - Debt Instruments | us-gaap:ScheduleOfDebtInstrumentsTextBlock |
The following table provides a summary of the Company’s long-term debt as of September 27, 2014 and September 28, 2013:
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Level 4 Details Key Concepts: Long-term Debt Maturities
| Description | Fact value | US GAAP XBRL Concept |
|---|---|---|
| Year 1 (Current portion) | 0 | us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths |
| Year 2 | 2,500,000,000 | us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo |
| Year 3 | 2,500,000,000 | us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree |
| Year 4 | 6,000,000,000 | us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour |
| Year 5 | 3,000,000,000 | us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive |
| Thereafter | 15,000,000,000 | us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive |
| Total Long-term Debt | 28,987,000,000 | us-gaap:LongTermDebt |
| CHECK | -13,000,000 |
(Classified balance sheet) Deferred tax assets (liabilities), net components current/noncurrent asset/liability
| Description | Fact value | US GAAP XBRL Concept |
|---|---|---|
| Current portion | 0 | |
| Noncurrent portion | 0 | |
| Total Long-Term Debt | 28,987,000,000 | us-gaap:LongTermDebt |
| CHECK | 28,987,000,000 |
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